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I had a premature distribution (in 2000) from my IRA for a home purchase. The amount included my contributions for 2000 (I contributed in Jan 2000 for tax year 2000). Can I make a contribution now (before Apr 15) for the year 2000?

(Thanks TMFKaren)
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I had a premature distribution (in 2000) from my IRA for a home purchase. The amount included my contributions for 2000 (I contributed in Jan 2000 for tax year 2000). Can I make a contribution now (before Apr 15) for the year 2000?

No. You only get to contribute $2,000 per tax year. What you do with it later is irrelevant.

Phil Marti
VITA Volunteer
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Pertaining to this topic, if I did make another contribution for the year 2000, I would have an excess contribution. I can then regard the earlier distribution as withdrawl of excess contribution. Is this scenario viable?
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Pertaining to this topic, if I did make another contribution for the year 2000, I would have an excess contribution. I can then regard the earlier distribution as withdrawl of excess contribution. Is this scenario viable?

If I understand you, you want to pretend that a distribution in year 2000 was of an excess contribution made in 2001 (allocated to year 2000). No, you can't do that. At the moment there is no excess contribution. If you make another contribution for year 2000, you have to withdraw the amount of the new contribution to avoid the excess contribution tax.

Phil Marti
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